News World May to meet executives as fears over no-deal Brexit grow

May to meet executives as fears over no-deal Brexit grow

Prime Minister Theresa May will meet about 120 business leaders and major investors on Wednesday as concerns mount about the chance that Britain will leave the world’s biggest trading bloc without a deal.

May and finance minister Philip Hammond are due to meet executives to discuss Brexit and this week’s annual budget, which included spending pledges and higher taxes on technology firms. They will both make statements and then take questions.

The government has so far not said where the meeting is taking place or who will be attending.

With five months to secure a deal before Britain is due to leave the European Union, business leaders are demanding certainty over the kind of trade terms the divorce will deliver. In particular, they want reassurances that there will be a 21-month transition period after Britain is due to leave the bloc.

If Britain and the European Union fail to strike a withdrawal agreement, there will be no formal transition period to cushion the impact of Brexit.

The Brexit negotiations are currently stalled over a disagreement on a fallback plan to avoid a hard border on the island of Ireland, former focal point for sectarian tensions, if a future trading relationship is not in place in time.

The latest meeting with business leaders follows a conference call the prime minister held with a similar-sized group of business leaders earlier this month.

Earlier this week in the budget, the government announced an end to Britain’s long spending squeeze with tax cuts for households and a new tax on the revenues of multinational technology companies.

(Reuters)

Top Stories

160 new cases of COVID-19 on Friday

The Health Ministry announced 160 new COVID-19 cases on 23 October, out of 4,327 laboratory tests, taking confirmed infections to 3,314. The break-down of new...

Health Ministry insists there is confirmed case among American Center staff

The Health Ministry replied to the denial of the American Medical Center regarding a confirmed case among its staff. In an announcement the Ministry noted...

Health Ministry replies to accusation about delay of the tracing unit

The tracing unit contacts the persons who have tested positive to COVID-19 as soon as it is informed by the relevant laboratories and the...

Professor of Microbiology concerned about asymptomatic patients

Dr Petros Karayiannis, Professor of Microbiology/Molecular Virology at the University of Nicosia Medical School, has expressed concern over the great number of private hospitals,...

30-year-old missing for seven months (PHOTO)

Police are looking for 30-year old NAKITA YASMEEN from the United Kingdom, whose traces have been lost since March 2020. Yasmeen’s disappearance was today...

Taste

Squash soup

Ingredients: 1 kg pumpkin, cut into small cubes, approximately 5 cups 2 medium (400g) sweet potatoes, cut into cubes, approximately 2 ½ cups 1 chopped leek, only...

Mezedes

No visit to Cyprus is complete without enjoying the traditional meal of many small dishes known as ‘meze’. This large feast, which has been a...

Prawns with fried cheese, barley shaped pasta

Put the barley shaped pasta into a small pan with salted water, bring to a boil and when tender, drain. Peal the prawns leaving...

Salmon and shrimp sheftalies

Mix all ingredients for tabbouli in a bowl and keep to one side so flavours can combine. Prepare the sheftalies: wash and soak the casing...